Warren Buffett caricature
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The Chinese economy is slowing down and there can be no denying it
Global investors and the bankers at Jackson Hole might not want to admit it, but China is no longer a powerhouse for global growth The China slowdown is real and central banks pumping up stock markets with cash and confidence is not going to reverse that situation. At some point, investors from Shanghai to New […]
HSBC to process 275,000 delayed payments overnight
System failure leaves many workers without their salaries ahead of bank holiday weekend, but bank promises to refund any costs incurred HSBC has promised to send delayed payments to frustrated customers by Saturday morning after a day of chaos left hundreds of thousands of people without cash on payday, ahead of the bank holiday weekend. […]
US stocks dip as rollercoaster week continues – live
Asian markets make gains… but the FTSE100 dips into negative territory Oil extends its rise after the biggest one-day price increase in 6 years UK GDP confirmed at 0.7% growth in Q2 Greece has a new finance minister: Yiorgas Houliaràkis Central bankers head for the hills 4.55pm BST Reuters has been snapping the highlights from […]
GM technology isn't good or evil – it's what we do with it that counts
Rather than debating genetically modified food, we should be discussing the problems it is intended to solve Just mentioning genetic modification (GM) creates division. The anti-GM lobby sees red mist, the pro-GM lobby seemingly wants to roll out the red carpet and others see GM as a red herring, a distraction from other (more easily […]
Does the world need a financial early warning system?
Increase in market volatility suggest investors are as bad as slow-moving sovereign rating agencies at detecting early signs of trouble Recent market volatility in emerging and developed economies is showing once again how badly ratings agencies and investors can err in assessing countries’ economic and financial vulnerabilities. Ratings agencies wait too long to spot risks […]
A history of UK banks' system failures
HSBC’s meltdown has left business customers unable to pay salaries or suppliers, but this is not the first time such a crisis has hit a British bank … 9 June 2012 The worst banking meltdown to date hit millions of customers of RBS, NatWest and Ulster Bank, locking them out of their accounts for days, […]
UK exports and business investment help second-quarter GDP growth
ONS data shows net trade made its biggest contribution to growth in four years, as 0.7% increase in GDP is confirmed Exports and business investment helped the UK economy expand in the second quarter, according to official figures that confirmed a pickup in growth after a sluggish start to the year. The Office for National […]
Qantas chief Alan Joyce paid $11.9m after turning record loss into profit
Company says bonus was earned but Transport Workers Union criticises pay award, saying there is ‘no justification for this level of greed’ Qantas chief executive Alan Joyce’s pay packet has swelled to $11.9m, nearly six times his take home pay last year, after turning a record loss into a net profit for the company. A […]
Share prices likely to close week relatively unscathed by Black Monday
European shares appear to recover after China’s stock market crash as jump in oil prices on Thursday helps energy and mining sectors Global share prices look to be closing a dramatic week barely changed from how they began it, despite volatile movements that saw indices fall more than at any time in the past six […]